EURUSD took a pause. Overview for 06.02.2023


EURUSD has used all the active signals and is waiting for new ones. The current quote is 1.0800.

Many things have happened. The US Federal Reserve System carried out its long-awaited meeting, where they decided to lift the interest rate by 25 base points and gave quite controversial signals. Practically, they said that would be lifting the interest rate smoothly but were ready to consider bringing the tight monetary policy to the end.

After the rate sky-rocketed in 2022, the current growth looks slow and carefree. This makes capital markets happy.

The European Central Bank also lifted the interest rate but by 0.50% as expected. The regulator commented that it was not the peak yet and still had a way to go. In March, the rate will again be lifted by 50 base points. According to the ECB, economic activity in the region has dropped.

The USD turned out in a stronger position.

The US employment market statistics for January gave the currency additional support. The unemployment rate dropped to 3.4%, and the NFP grew by more than had been expected.

The Fed this week will be giving a lot of comments – let us see what they will be touching upon. Inflation esteems are vague and restrained, and little is said about the prospects of the monetary policy. The USD may start falling again if it does not get more support.


Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.